Holland & Knight LLP: A Global M&A Powerhouse for Search Fund Acquisitions
When it comes to acquiring a small business through an SBA loan, having the right legal counsel can make or break your deal. Holland & Knight LLP stands out as one of the most formidable law firms in the mergers and acquisitions space, bringing the resources of a global platform to entrepreneurs and search fund operators looking to buy their first business.
Featured on VerSquare.com — the trusted review platform for SMB deal professionals — Holland & Knight has earned recognition as a top-tier M&A law firm. In this comprehensive review, we’ll explore what makes Holland & Knight a compelling choice for SBA acquisition buyers, what services they offer, and how to determine if they’re the right fit for your deal.
Firm Overview: Who Is Holland & Knight?
Holland & Knight is a global law firm with over 2,200 attorneys across offices in the United States, Europe, and Latin America. Founded in 1889, the firm has grown into one of the largest and most respected legal practices in the world. They were recently named M&A Law Firm of the Year by The M&A Advisor — a testament to their dealmaking prowess.
Key facts about Holland & Knight:
- Size: 2,200+ attorneys worldwide
- Offices: 30+ locations across the U.S. and internationally
- Founded: 1889
- Recognition: Named M&A Law Firm of the Year by The M&A Advisor
- Specialties: Corporate transactions, M&A, private equity, tax, real estate, litigation
The Dedicated Search Fund Team
What truly sets Holland & Knight apart for SBA acquisition buyers is their dedicated Search Fund Team. While many large firms treat small business acquisitions as an afterthought, Holland & Knight has built an entire practice group focused specifically on search fund entrepreneurs and acquisition-driven buyers.
What the Search Fund Team Covers
The Search Fund Team provides end-to-end legal support across the entire acquisition lifecycle:
- Fund Formation: Structuring your acquisition vehicle, whether it’s a traditional search fund, self-funded search, or independent sponsor model
- Capital Raising: Navigating securities regulations and investor agreements as you raise equity to complement your SBA financing
- Tax Planning: Optimizing the deal structure for tax efficiency, including entity selection, asset vs. stock purchase considerations, and seller financing implications
- Due Diligence: Conducting thorough legal due diligence on the target company, including contracts, employment matters, intellectual property, litigation risks, and regulatory compliance
- Acquisition Execution: Drafting and negotiating purchase agreements, managing closing conditions, and handling post-closing matters
HK Deal Flow Service
One of Holland & Knight’s most innovative offerings is their HK Deal Flow service. This proprietary platform connects search fund operators and acquisition entrepreneurs with deal opportunities, creating a unique ecosystem that goes beyond traditional legal services. For SBA buyers, this can mean access to a pipeline of acquisition targets that you might not find through conventional channels.
Why M&A Attorneys Matter for SBA Acquisitions
If you’re planning to acquire a business using an SBA 7(a) loan, you might wonder whether you really need an experienced M&A attorney. The answer is an emphatic yes — and here’s why:
SBA Deals Have Unique Legal Requirements
- SBA Standard Operating Procedures (SOPs): SBA loans come with specific requirements around deal structure, equity injection, standby agreements, and seller notes. An experienced M&A attorney ensures your purchase agreement complies with all SBA requirements.
- Change of Ownership Rules: SBA lenders require specific documentation and approvals for ownership transitions. Your attorney needs to understand these nuances.
- Personal Guarantees and Collateral: SBA loans require personal guarantees and may require additional collateral pledges — all of which need proper legal documentation.
Protecting Your Investment
- Representations and Warranties: These clauses in your purchase agreement are your primary protection against undisclosed liabilities. A skilled M&A attorney will craft comprehensive reps and warranties tailored to your specific deal.
- Indemnification Provisions: If the seller misrepresented something, you need clear legal recourse. Your attorney structures indemnification clauses that actually protect you.
- Non-Compete and Transition Agreements: Ensuring the seller doesn’t compete with you and properly transitions the business is critical to preserving the value you’re acquiring.
Navigating Due Diligence
- Contract Review: Identifying change-of-control provisions in key contracts (leases, customer agreements, vendor contracts) that could derail your deal
- Employment Matters: Understanding employee agreements, benefits obligations, and potential labor liabilities
- Regulatory Compliance: Ensuring the target business holds all necessary licenses and permits, and that these can transfer to you
Holland & Knight’s Strengths for SBA Buyers
The Big Firm Advantage
Working with a firm the size of Holland & Knight brings several advantages that smaller firms simply can’t match:
- Depth of Resources: Need a tax specialist, an employment lawyer, and a real estate attorney for your deal? Holland & Knight has all of them under one roof.
- Cross-Practice Collaboration: Complex acquisitions often touch multiple legal disciplines. A global firm can seamlessly coordinate across practice areas.
- Industry Expertise: Whatever industry your target business operates in — healthcare, technology, manufacturing, services — Holland & Knight likely has attorneys who specialize in that sector.
- Institutional Knowledge: With thousands of deals completed, the firm brings pattern recognition and best practices that can help you avoid common pitfalls.
Potential Considerations
Every law firm has trade-offs, and it’s important to consider these factors:
- Cost: As a global Am Law 100 firm, Holland & Knight’s hourly rates will generally be higher than boutique M&A firms. For smaller SBA deals (under $2-3M), this may be a significant consideration.
- Firm Size: While the Search Fund Team provides specialized attention, you’re still working within a large firm structure. Ensure you understand who will be handling your day-to-day legal work.
- Deal Size Sweet Spot: Holland & Knight may be best suited for larger SBA acquisitions ($3M+) or deals with complex structures where their depth of resources justifies the investment.
Who Should Consider Holland & Knight?
Holland & Knight is an excellent choice for:
- Search fund operators who have raised institutional capital and need a firm that understands the search fund model
- Buyers pursuing larger SBA acquisitions ($3M+ purchase price) where the deal complexity warrants a full-service firm
- Entrepreneurs acquiring businesses in regulated industries (healthcare, financial services, government contracting) where specialized legal expertise is essential
- Buyers who want a one-stop-shop for all legal needs — from deal structuring through post-acquisition operations
How GoSBA Loans Can Help You Close Your Deal
While Holland & Knight handles the legal side of your acquisition, you need the right financing partner to bring it all together. That’s where GoSBA Loans comes in.
GoSBA Loans is a free service that connects business acquisition buyers with the right SBA lender for their deal. Here’s what sets GoSBA apart:
- 50+ SBA Lender Network: Access to over 50 vetted SBA lenders who specialize in business acquisitions
- $320M+ in Funded Deals: Our platform has facilitated over $320 million in SBA loan funding
- Free Business Plan: Every GoSBA client receives a professionally prepared business plan — a $2,500 to $5,000 value — completely free
- Zero Cost to You: GoSBA’s services are entirely free for borrowers. We’re compensated by our lending partners.
- Expert Guidance: Our team understands the nuances of SBA acquisition financing and can help match you with lenders who specialize in your industry and deal size
Whether you’re working with Holland & Knight or another M&A law firm, having the right SBA lender is just as important as having the right attorney. GoSBA Loans ensures you’re matched with a lender who can get your deal done efficiently and at competitive terms.
Ready to get started? Contact GoSBA Loans today for a free consultation and business plan. Let us help you secure the SBA financing you need to close your acquisition.
Final Verdict on Holland & Knight
Holland & Knight LLP brings unmatched resources, a dedicated Search Fund Team, and the innovative HK Deal Flow service to the table. For search fund operators and entrepreneurs pursuing larger or more complex SBA acquisitions, they offer a level of expertise and institutional support that few firms can rival.
While their rates may be higher than boutique alternatives, the depth of their platform — spanning tax, employment, regulatory, and transactional expertise — can provide significant value for the right deal. If your acquisition involves complex structures, regulated industries, or institutional capital, Holland & Knight deserves serious consideration.
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